Feeds

HALF of all Bitcoin-investing Winklevoss twins predict $400bn market for the currency

Tyler: Yeah, what he said

Designing a Defense for Mobile Applications

Facebook backer-turned-antagonist Cameron Winklevoss has issued a bright forecast for the future of the Bitcoin cryptocurrency.

Speaking in a Reddit Ask Me Anything session, Winklevoss said that he projects the value of Bitcoins could reach upwards of $40,000 at some point in the not-too-distant future.

"Small bull case scenario for Bitcoin is a $400bn market cap, so $40,000 a coin, but I believe it could be much larger," Winklevoss wrote.

"When this will happen, if it happens, I don't know, but if it happens, it will probably happen much faster than anyone imagines."

One half of the Winklevoss twin brothers-turned-investors-turned-Olympians-turned-investors-again duo, Cameron has emerged as both a major financial backer of Bitcoin and an evangelist for the digital currency.

Earlier this year, Winklevoss claimed to own roughly one per cent of the world's Bitcoins with his brother. The portfolio was estimated at $11m at the time and would be far higher as the price of Bitcoins has soared in recent weeks.

Readers noted that Winklevoss was hardly an unbiased source of speculation on the matter of Bitcoin, concerns which he moved not-so-successfully to dismiss.

"I have put my money where my mouth is," he offered. "I stand to gain as well as lose depending on how the future unfolds."

As Winklevoss ponders the future of the Bitcoin market, others have been speculating on the origin of the cryptocurrency.

The International Business Times cited Butterfly Labs chief operating officer Josh Zerlan in speculating that Bitcoin creator Satoshi Nakamoto was actually an identity created by a group of individuals based in Europe.

Zerlan, whose company specialises in building Bitcoin-mining hardware, reckoned that a number people who work in the finance sector collaborated to create Bitcoins and have hidden behind the identity of Nakamoto while functioning as a group.

The identity of Nakamoto has long been a matter of speculation, with guesses ranging from economics professors to shady financial industry masterminds with ties to other markets and groups. ®

The smart choice: opportunity from uncertainty

More from The Register

next story
BBC goes offline in MASSIVE COCKUP: Stephen Fry partly muzzled
Auntie tight-lipped as major outage rolls on
There's NOTHING on TV in Europe – American video DOMINATES
Even France's mega subsidies don't stop US content onslaught
You! Pirate! Stop pirating, or we shall admonish you politely. Repeatedly, if necessary
And we shall go about telling people you smell. No, not really
Airbus promises Wi-Fi – yay – and 3D movies (meh) in new A330
If the person in front reclines their seat, this could get interesting
UK Parliament rubber-stamps EMERGENCY data grab 'n' keep bill
Just 49 MPs oppose Drip's rushed timetable
Want to beat Verizon's slow Netflix? Get a VPN
Exec finds stream speed climbs when smuggled out
Samsung threatens to cut ties with supplier over child labour allegations
Vows to uphold 'zero tolerance' policy on underage workers
Dude, you're getting a Dell – with BITCOIN: IT giant slurps cryptocash
1. Buy PC with Bitcoin. 2. Mine more coins. 3. Goto step 1
prev story

Whitepapers

Reducing security risks from open source software
Follow a few strategies and your organization can gain the full benefits of open source and the cloud without compromising the security of your applications.
Consolidation: The Foundation for IT Business Transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.
Application security programs and practises
Follow a few strategies and your organization can gain the full benefits of open source and the cloud without compromising the security of your applications.
Boost IT visibility and business value
How building a great service catalog relieves pressure points and demonstrates the value of IT service management.
Consolidation: the foundation for IT and business transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.